Gold gains as dollar weakens, Donald Trump announces Iran talks
Business
Gold prices got a boost this Monday, thanks to a weaker US dollar and dropping oil prices.
The mood in the market lightened after Donald Trump announced new Iran talks, easing worries about a sudden conflict in the Middle East.
Spot gold climbed 0.7% to $4,068.54 per ounce, while US gold futures went up 0.9% to $4,066.60.
Investors cautious ahead of US data
Even with these gains, investors are staying cautious as focus shifts to inflation risks and upcoming US economic data: stuff that could influence central bank decisions and interest rates (which usually isn't great for gold).
Silver and palladium also saw increases, with analysts expecting seasonal buying to give gold some short-term support despite all the uncertainty out there.